Documents & Reports

One of the main reasons Cambodia joined the World Trade Organization (WTO) was to use its membership as a springboard for promoting a credible, open and fair business environment. In joining the WTO, the government of Cambodia promised to enact a total... See More +One of the main reasons Cambodia joined the World Trade Organization (WTO) was to use its membership as a springboard for promoting a credible, open and fair business environment. In joining the WTO, the government of Cambodia promised to enact a total of 47 regulations and laws that, if properly enforced, would foster investment and accelerate economic growth. The government agreed to a Work Program through which most of these laws would be completed by 2006; however, as of July 2006, only 19 laws and regulations have been adopted. The business community in Cambodia, particularly foreign companies, is paying close attention to whether or not the government delivers on these commitments. The slow pace at which the necessary laws have been developed could negatively impact Cambodia's efforts to attract foreign investment, and therefore to provide some of the jobs required by the 230,000-plus entrants to the labor market each year. This issue of the Business Issues Bulletin looks at the current status and expected timeframes of seven key commercial laws that formed part of Cambodia's WTO agreement: Secured Transactions Law, Commercial Leasing Law, Law on the Issuance and Trade of Non-Government Securities, Insolvency Law, Commercial Contracts Law, Competition Law, and Commercial Court Law.
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